KOSPI Weakens Amid Foreign Selling Pressure... Turns Negative Intraday

[Image source=Yonhap News]

[Asia Economy Reporter Park Jihwan] The KOSPI is showing a decline during the session, driven by foreign selling pressure.

According to the Korea Exchange on the 15th, as of 10:03 a.m., the KOSPI stood at 3,121.09, down 28.84 points (0.92%) from the previous trading day. The index opened at 3,153.84, up 0.12% from the previous close, showing a bullish trend. However, as foreign selling intensified in the early session, the index turned downward during the session.

By investor type, individuals and institutions are defending the index by purchasing 332.1 billion KRW and 75.5 billion KRW respectively. On the other hand, foreigners net sold 394.2 billion KRW worth of shares.

Among the top 10 companies by market capitalization, all stocks are showing a downward trend. Samsung Electronics (-0.45%), SK Hynix (-0.38%), LG Chem (-1.68%), Samsung Biologics (-0.86%), and Hyundai Motor (-2.00%) are all declining.

At the same time, the KOSDAQ recorded 970.23, down 10.06 points (1.03%) from the previous close. Individuals are net buyers with 100.1 billion KRW worth of purchases. Meanwhile, foreigners and institutions net sold 80.6 billion KRW and 10.7 billion KRW respectively.

Among the top market cap stocks, most are showing declines. Celltrion Healthcare and Celltrion Pharm fell by 5.71% and 7.53% respectively. Seegene also showed weakness with a 2.98% drop. On the other hand, Pearl Abyss and SK Materials posted slight gains.